LGFA gearing up for beginning of NZ$1 billion funding task
- Tuesday, 14 February 2012
A day ahead of the February 15 first tender of bonds from New Zealand's Local Government Funding Agency (LGFA) the new borrower has set out a bullish line on pricing. While conceding that it will have to pay a new issue premium, the LGFA believes there are strong fundamentals supporting initial pricing at least 40 basis points tighter than even the lowest margin individual local authority paper.
